Mystate Limited · ASX:MYS
Mystate — Shareholder Meeting (October 2011)
34 slides from Mystate's shareholder meeting presentation, Oct 25, 2011
Slide 1: Annual General Meeting 2011 - Growth is Key
MyState Limited (ASX Code: MYS) For personal use only Annual General Meeting 25 October 2011 GROWTH IS KEY 2010 - 2011 RESULTS
Slide 2: Disclaimer
Disclaimer For personal use only This presentation contains certain forward- presentation, information or material (collectively, looking statements with respect to the financial the Information), or the accuracy, likelihood of condition, results of operations, business plans achievement or reasonab
Slide 3: Programme
Programme For personal use only Key goals and achievements in 2010 / 2011 Current Group Structure 2009 MSF/TPT Merger Update 30 June 2011 ‘Snapshot’ MYS Group Results – Full Year Results to 30 June 2011 Performance Highlights The Future Strategic Priorities Merger with The Rock Building Society
Slide 4: Key goals and achievements: Consolidating the benefits of the merger
Key goals and achievements in 2010 / 2011 For personal use only Consolidating the benefits of the merger Group cultural values established Group enterprise agreement negotiated evenue synergies realised via cross-referral of R products and services between both brands – e.g. a 26% rise in new and re
Slide 5: Key goals and achievements: Refining and documenting group strategies
Key goals and achievements in 2010 / 2011 For personal use only Refining and documenting the group strategies roup’s vision and growth strategy confirmed G enabling deployment of new market offerings – Business Banking, Agribusiness, Wealth Management (platform) Brand strategy refined to support new
Slide 6: Key goals and achievements: Building internal capability
Key goals and achievements in 2010 / 2011 For personal use only Building internal capability Leadership programs implemented Group-wide training established Common reward and recognition program established Change and project management capability resourced M&A capability enhanced
Slide 7: Our Current Group Structure
Our Current Group Structure For personal use only Non-Operating Holding Company d 10 ne 0% ow ow 0% ne 10 d Subsidiary Subsidiary
Slide 8: The 2009 MSF/TPT Merger Update
The 2009 MSF/TPT Merger Update For personal use only For All Shareholders: • Earnings per share (EPS) accretive in Year 1 and strongly EPS accretive thereafter - Achieved • Continued and further EPS uplift as a result of cost and revenue synergies in years 2 and 3 - Achieved • Anticipated enhanced a
Slide 9: MYS June 2011 Snapshot
MYS 30 June 2011 ‘Snapshot’ For personal use only Market capitalisation (6 September 11) $239M NPAT $22.02M Net Assets $204.6M Funds Under Management (1) $0.93B Loans Under Management (2) $1.86B Funds Under Advice or Administration (1) $737M Deposits (2) $1.58B (1) Relates to Tasmanian Perpetual Tru
Slide 10: MYS Group full year results to June 2011
MYS Group full year results to 30 June 2011 For personal use only Group Revenue of $187.36M Group Profit After Tax (PAT) of $22.02M – up 27% on prior year Earnings Per Share (EPS) of 32.65 cents – up 19% on prior year F inal Dividend declared of 15.0 cents per share payable 7 October 2011 (Previous
Slide 11: MYS Group full year results to June 2011 (MSF and TPT)
MYS Group full year results to 30 June 2011 For personal use only MSF Net Interest Margin (NIM) of 3.23% up 0.07% on previous period T PT Managed Investment Scheme (MIS) management fees have stabilised after the Global Financial Crisis (GFC) T PT capital and income commissions are stable but with co
Slide 12: Performance Highlights
Performance Highlights For personal use only
Slide 13: MYS Cost-to-Income
MYS Cost-to-Income For personal use only 74.64% 73.93% 68.33% 68.40% 63.33% Dec-09 Jun-10 Dec-10 Jun-11 Note • All figures include bad and doubtful debts • YEJ 11 excludes year-end one off write-off’s
Slide 14: MYS Group Capital Adequacy
MYS Group Capital Adequacy For personal use only 16.75% 16.25% 15.75% Group GROUPCapital Capital 15.25% Adequacy Adequacy 14.75% MSF Capital MSF CapitalAdequacy Adequacy 14.25% 13.75% 13.25% Board Policy Board Policy 12.75% Jul‐10 Aug‐10 Oct‐10 Nov‐10 Dec‐10 Feb‐11 Mar‐11 Apr‐11 May‐11 Jun‐10 Jun‐11
Slide 15: MSF - Interest Bearing Liability Portfolio
MSF - Interest Bearing Liability Portfolio For personal use only 800 761 690 700 624 592 600 500 419 400 293 300 241 197 ($ Millions) 200 100 0 At Call Savings Accounts Retail Term Deposits Corporate Term Deposits SecuriBsaBon ConDsEFotes 2010 2011 Liability Category
Slide 16: MSF - Household Deposits as at June 2011
MSF - Household Deposits as at 30 June 2011 For personal use only Balance Growth MSFMSF ($M) ($M) 8.32% 7.93% 7.35% 761 761 690 690 2.94% 545 545 572 572 6 Mnth 12 Mnth Jun‐10 Jun‐10 Jun‐11 Jun‐11 MSF System /01in3s /01in3s 5 Tr0ns089ons 5 Tr0ns089ons TermTerm Deposits Deposits System data source: A
Slide 17: MSF - Home Lending as at June 2011
MSF - Home Lending as at 30 June 2011 For personal use only Balance Growth 11.31% 10.48% 6.22% 6.30% 6 Mnth 12 Mnth MSF System System data source : RBA, Lending and Credit aggregates, published on 29 July 2011. Six month growth is to Jun 11 annualised.
Slide 18: MSF - Leads customer satisfaction
MSF - Leads customer satisfaction For personal use only 95% satisfaction rating
Slide 19: TPT - Funds Under Management
TPT - Funds Under Management For personal use only
Slide 20: TPT - Wealth Management Funds Under Advice
TPT - Wealth Management Funds Under Advice For personal use only
Slide 21: The Future
For personal use only The Future
Slide 22: The Future: Market conditions remain challenging
The Future For personal use only Market conditions remain challenging Subdued demand for credit – record consumer savings Competitive pressures – major banks and regionals Maintain discipline in both asset and liability generation Price for risk in new SME business unit Profitability vs. market shar
Slide 23: The Future: Uncertain economic outlook
The Future For personal use only Uncertain economic outlook T asmanian economy challenged but MSF and TPT results remain strong Growth expected in MSF and TPT Agribusiness lending Stable margins ontinuing investment in the business – C people, property and systems
Slide 24: Merger with The Rock Building Society
Merger with The Rock Building Society For personal use only
Slide 25: The Rock Building Society
The Rock Building Society For personal use only
Slide 26: Our Future Group Structure
Our Future Group Structure For personal use only 120,000 80,000 40,000 customers customers customers
Slide 27: Merger benefits for shareholders: revenue opportunities
Merger benefits for shareholders For personal use only Delivery of enhanced revenue opportunities through: A larger more diversified distribution footprint istribution of expanded and more competitive products and D services etter asset and liability management delivering improved B interest margins
Slide 28: Merger benefits for shareholders: cost savings
Merger benefits for shareholders For personal use only Delivery of cost savings through: T reasury benefits, including savings from proposed ADI licence consolidation ombining corporate functions and eliminating duplicated head C office functions Rationalised Board, ASX and share registry related fu
Slide 29: Merger benefits for shareholders: pooling of talent
Merger benefits for shareholders For personal use only The pooling of talent and capability across the Merged Entity: S trong branding, marketing and retail skills of MyState can be deployed to leverage The Rock’s brand and distribution footprint E xperienced system implementation skills of The Rock
Slide 30: Merger benefits for shareholders: risk mitigation and funding
Merger benefits for shareholders For personal use only Mitigation of operational risks from a lack of geographic diversification currently impacting: Credit rating Product ratings Securitisation and commercial paper pricing Stronger funding and capital position of the Merged Entity supporting future
Slide 31: Key dates for implementation
Key dates for implementation For personal use only
Slide 32: MYS - Twelve Month Relative Stock Performance to June 2011
MYS - Twelve Month Relative For personal use only Stock Performance to June 2011
Slide 33: Questions?
For personal use only Questions?
Slide 34: Annual General Meeting 2011 - Growth is Key
MyState Limited (ASX Code: MYS) For personal use only Annual General Meeting 25 October 2011 GROWTH IS KEY 2010 - 2011 RESULTS